RFinity builds software to secure near-field communication (NFC) transfers and mobile transactions. Its technology verifies incoming NFC signals, requests user permission, requires a PIN for transaction actions, and issues one-time-use transaction codes combined with complex cryptographic signatures to prevent replay or interception. The company also provides remote shutdown of NFC capabilities and initially routed transactions through its own secure servers for person-to-person and person-to-vendor use cases, with the aim of eventually cutting out that middleman. RFinity originated from infrastructure security experts at the U.S. Department of Energy who discovered cell-phone vulnerabilities and developed defensive software. The company has been conducting field tests since 2009 in places like Idaho and has run trials with firms including PayPal, Bank of America, and Subway. According to the article, RFinity has raised $4 million from Horizons Ventures and is already out raising another round as it prepares for broader NFC adoption.

Total raised

$4M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2011